Samsung Electronics will use Blockchain to track global supply chains

Samsung Electronics will use Blockchain to track global supply chains

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The largest world producer of smartphones and semiconductors Samsung Electronics examines possibility of creation of the blockchain system for watching of the global chains of supplying with commodities, Bloomberg reports.

Such statement was done by the head of blockchain departments SDS Co, logistic and IT- of subdivision of south Korean giant Song Kwang-woo. Annually Samsung supplies commodities on ten of milliards of dollars, and as suppose in a company, the blockchain system can bring down transport charges on 20%.

“It will have enormous influence on the chains of supplying with producers. Blockchain is a key platform for digital transformation”, – Song Kwang-woo said.

SDS expects that this year a company will send the 480 thousand tons of load skyway and one million 20-one-foot containers. Among the sent commodities – producible Samsung Electronics OLED- displays and smartphones of Galaxy S9.

As a professor of the industrial engineering of University talks to Cora in Seoul of Cheong Tae-su, the use of the blockchain system can help a company to shorten temporal intervals between the start of products and their actual shipping. It, in turn, will strengthen positions of Samsung in a fight against competitors and will help to change the preferences of consumers on markets like China.

“We talk about that, to maximize efficiency and visibility of deliveries, then conduces to the greater consumer confidence”, – he said.

In May, 2017 Samsung SDS led a new blockchain consortium that put to itself an aim introduction of technology of the up-diffused register in the sphere of transport logistic. In the complement of consortium Korean custom service, Ministry of oceans and fishing, navigable company Hyundai Merchant Marine, IBM Korea and trade platform of Korea Trade Network Co.Ltd.

In the same year a company made agreement with the government of Seoul within the framework of that will render support in development of plan on implementation to 2022 of blockchain technologies in such spheres, as charity, public safety and transport infrastructure.

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